[phelanw]

Okay, lets measure manufacturing as a % of US GDP. Here is a website that will let you compare 1985 numbers with 2005 numbers:
http://earthtrends.wri.org/searchable_db/index.php?step=countries&cID%5B%5D=190&allcountries=checkbox&theme=5&variable_ID=217&action=select_years
Sorry, I forgot how to imbed. In 1985 it was 20% of GDP, in 2005 it was 14.4%. Their numbers don't go back past 1985.
If you go back further the number would be higher.
The problem with importing more than we export is of course the fact that it increases our indebtedness to the rest of the world. With a total debt of 350% of GDP and climbing (far higher as a percentage than during the depression) we can't afford to take on new debt. We are also seeing signs that foreigners willingness to lend to us is declining. So our standard of living went up in large part because we were piling up debt, and that game is over.

[dilvish]

Your website only goes back to 1987. And of course even in that it proves you WRONG. 14.4% of the largest GDP on the planet, the largest GDP in the HISTORY of the planet, is manufacturing. Pretty obviously puts the lie to the idea that we don’t manufacture anything in this country.

We don’t increase indebtedness when we import. Imports are for CASH not dept. Foreign lending happens on a completely different level.

Actually our standard of living has gone up for reasons 1005 UNRELATED to the trade deficit. Trade deficit is the biggest smoke and mirrors stat in existence. Our standard of living has gone up because of technological and economic development. We get more out of everything now than we did in the past, more finished goods, more money, more use. Our houses are bigger, we have more vehicles, more access to better food and medicine, longer life expectancy.

The simple reality is that the doom and gloom crowd that whines of our lack of manufacturing and the evil trade deficit are proven by history to be 100% BS. STOP THE FEAR MONGERING, STOP THE LIES, HAVE A MERRY CHRISTMAS.